Articles tagged as "Shares"
AB InBev: The king of beer
The market has several concerns about brewer Anheuser-Busch InBev which are currently weighing on its share price. We believe the company’s fundamentals are...
Was 2022 a secular turning point and if so, what does it mean for the years ahead?
In his first investment update of 2023, Duncan Artus discusses the current investment context and how it differs from the past, shares a review of 2022 and...
Solving the diversification dilemma
"Don’t put all your eggs in one basket" is a phrase familiar to many of us, and when it comes to investing and minimising risk, it is quite a sensible...
Local investment update: Always pay the right price
Jacques Plaut and Duncan Artus discuss the positioning of our equity and multi-asset funds given the pre-existing trends exacerbated by the war in Ukraine....
It’s the price you pay that matters
As investors we shouldn’t pretend we operate in a vacuum that is nicely insulated from the prevailing macroeconomic and political trends. However, it is...
Markets change quickly, investments shouldn’t
We often say that we play the hand we are dealt by the market. We can control our research efforts and our decisions, but we certainly can’t control the...
Our take on the “shrinking” JSE
Several high-profile delistings over the recent past have spurred market commentators to discuss the JSE’s “slow death” in the context of a struggling local...
Equity Fund: Fishing in muddy waters
In his 1986 letter to shareholders, Warren Buffett famously spoke of being fearful when others are greedy, and greedy when others are fearful.
COVID-19: Portfolio, economic and investment update
During February and March, we were active in both the local equity and fixed income markets. This activity reduced during April and May, as we believed the...
The money bubble
There’s something magical about bubbles. Formed of water, soap and a breath of air they seem incredible. In financial markets, bubbles are a lot less revered...
Beware of recency bias when making investment decisions
Over the past year, we have seen local investments streaming towards bonds and cash – the top-performing asset classes for most of 2019. Are investors chasin...
Is it 2002 all over again? Not quite
Domestically focused shares that are exposed to the local economy have underperformed the overall market. Duncan Artus investigates whether the current...
An opportunity in television?
The Top 40 got a new member this quarter when MultiChoice was unbundled from Naspers. MultiChoice owns the dominant pay-TV business in South Africa, DStv, wi...
How Allan Gray values a stock
Allan Gray is a strong proponent of value investing, the mantra famously championed by Warren Buffet. Put simply, value investing is the concept of buying...
Equity Fund update: Reversal of fortunes for domestically orientated sectors
For most of 2017, domestically orientated sectors fared poorly against the FTSE/ JSE All Share Index (ALSI). However, the last few weeks of the year saw a...
Equity Fund update: Patience is key in investing
Despite the high price-to-earnings (PE) ratio of the FTSE/JSE All Share Index (ALSI), our bottom-up investment process is finding attractive opportunities th...
Equity Fund update: Patience is key in investing
Despite the high price-to-earnings (PE) ratio of the FTSE/JSE All Share Index (ALSI), our bottom-up investment process is finding attractive opportunities th...
Global jitters: Avoid safe havens, opportunity in overlooked sectors
The uncertain global political and economic backdrop created by unexpected recent shocks has spooked investors. However fear, particularly when spurred by...
Net1 announces Serge Belamant’s retirement
Net1 has announced that Serge Belamant will retire as chief executive officer (CEO) and director of the company at the end of this month and Herman Kotzé,...
Net1: Do the right thing
We are very concerned about the situation surrounding Net1 – both the immediate need to ensure that 17 million beneficiaries receive their payments on time a...
Clarifying our position on Net1
There has been a lot of press coverage on Net1, the parent company of the current social grants payment provider Cash Paymaster Services (CPS), much of which...
Nuanced numbers and valuation pitfalls
We pick shares for client portfolios following a rigorous, bottom-up, fundamental research process. This involves, among many other considerations, the caref...
